Red Lion Hotels Corporation (RLH) has closed the sale of its hotel in Seattle. An affiliate of Lowe Enterprises Investors has acquired the property for $71 million. The public sale process was handled by Chris Burdett of CB Richard Ellis Hotels. While the hived off property will continue to operate under the Red Lion name, managed it will now be managed by Destination Hotels & Resorts, the affiliate of Lowe Enterprises Investors. This 297-room Red Lion Hotel on Fifth Avenue is located in downtown Seattle. In January, Red Lion Hotels put its Seattle and Denver based hotels up for sale. The idea was to unlock real estate value through selective disposition of asset ownership. In early March, the company announced the same plan for its hotel in Helena. Management intends
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